The following tables are presented to show the reconciliation of GAAP operating income to non-GAAP operating income by segment for 2022 and 2021.
TELEDYNE TECHNOLOGIES INCORPORATED RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES SUMMARY OF QUARTERLY OPERATING INCOME (Unaudited - in millions) |
|||||||||||
|
Third Quarter 2022 |
||||||||||
|
GAAP Operating Income |
|
Acquired intangible asset amortization |
|
Non-GAAP Operating Income |
||||||
|
|
|
|
|
|
||||||
Digital Imaging |
$ |
133.7 |
|
|
$ |
44.7 |
|
$ |
178.4 |
|
|
Instrumentation |
|
71.1 |
|
|
|
4.0 |
|
|
|
75.1 |
|
Aerospace and Defense Electronics |
|
44.3 |
|
|
|
0.2 |
|
|
|
44.5 |
|
Engineered Systems |
|
11.9 |
|
|
|
— |
|
|
|
11.9 |
|
Corporate expense |
|
(15.8 |
) |
|
|
— |
|
|
|
(15.8 |
) |
Total |
$ |
245.2 |
|
|
$ |
48.9 |
|
|
$ |
294.1 |
|
|
|
Nine Months 2022 |
||||||||||
|
|
GAAP Operating Income |
|
Acquired intangible asset amortization |
|
Non-GAAP Operating Income |
||||||
|
|
|
|
|
|
|
||||||
| Digital Imaging |
$ |
367.3 |
|
|
$ |
139.6 |
|
$ |
506.9 |
|
|
| Instrumentation |
|
216.3 |
|
|
|
13.6 |
|
|
|
229.9 |
|
| Aerospace and Defense Electronics |
|
131.3 |
|
|
|
0.6 |
|
|
|
131.9 |
|
| Engineered Systems |
|
29.9 |
|
|
|
— |
|
|
|
29.9 |
|
| Corporate expense |
|
(46.6 |
) |
|
|
— |
|
|
|
(46.6 |
) |
| Total |
$ |
698.2 |
|
|
$ |
153.8 |
|
|
$ |
852.0 |
|
|
|
Third Quarter 2021 |
||||||||||||||||||
|
|
GAAP Operating Income |
|
Acquired intangible asset amortization |
|
Inventory step-up expense |
|
Transaction and integration costs |
|
Non-GAAP Operating Income |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
| Digital Imaging |
$ |
94.9 |
|
|
$ |
50.1 |
|
$ |
35.2 |
|
$ |
1.5 |
|
$ |
181.7 |
|
|||
| Instrumentation |
|
63.0 |
|
|
|
5.0 |
|
|
|
— |
|
|
|
— |
|
|
|
68.0 |
|
| Aerospace and Defense Electronics |
|
35.9 |
|
|
|
0.2 |
|
|
|
— |
|
|
|
— |
|
|
|
36.1 |
|
| Engineered Systems |
|
11.5 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
11.5 |
|
| Corporate expense |
|
(15.7 |
) |
|
|
— |
|
|
|
— |
|
|
|
0.3 |
|
|
|
(15.4 |
) |
| Total |
$ |
189.6 |
|
|
$ |
55.3 |
|
|
$ |
35.2 |
|
|
$ |
1.8 |
|
|
$ |
281.9 |
|
|
|
Nine Months 2021 |
||||||||||||||||||
|
|
GAAP Operating Income |
|
Acquired intangible asset amortization |
|
Inventory step-up expense |
|
Transaction and integration costs |
|
Non-GAAP Operating Income |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
| Digital Imaging |
$ |
231.5 |
|
|
$ |
82.1 |
|
$ |
58.6 |
|
$ |
25.5 |
|
$ |
397.7 |
|
|||
| Instrumentation |
|
187.0 |
|
|
|
15.2 |
|
|
|
— |
|
|
|
— |
|
|
|
202.2 |
|
| Aerospace and Defense Electronics |
|
92.6 |
|
|
|
0.6 |
|
|
|
— |
|
|
|
— |
|
|
|
93.2 |
|
| Engineered Systems |
|
37.4 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
37.4 |
|
| Corporate expense |
|
(119.3 |
) |
|
|
— |
|
|
|
— |
|
|
|
76.7 |
|
|
|
(42.6 |
) |
| Total |
$ |
429.2 |
|
|
$ |
97.9 |
|
|
$ |
58.6 |
|
|
$ |
102.2 |
|
|
$ |
687.9 |
|
